Forex trading: Why most amateur traders fail

One phenomenon that derails amateur Forex traders time and time again is method complexity syndrome. They research a trading method, buy it and the minute they receive it, they jump ahead to what they consider to be the guts of the method. In doing so, they completely ignore all of the other aspects of trading, including risk management, discipline, and psychology.

They get into the “guts” of the method only looking for that big, mysterious, slap-your-forehead, jaw-dropping “secret” which will suddenly unlock the mysteries of the Forex universe and make them Master and Commander of every Forex pair. All too often, they find themselves completely disappointed or the “guts” reveal something they’d already heard about (but had not practiced). Amateur traders will then dismiss the method as ‘too simple’.

Or, the amateur trader will look for that complicated formula, cryptic combination of indicators and all too often what they actually discover is a set of simple indicators working together in an uncommon way, and they say, “Well I could have done that!” — and they become disappointed or frustrated, because they wrongly assume that any method MUST BE complex, it can’t possible be SIMPLE! So, they shelve the method or return it and complain that it’s “not complicated” enough.

This is a serious mistake – because the amateur trader will then repeat this error method after method and they will never take the time to learn and understand the full process of trading.

Don’t make this mistake. Understand that most trading methods out there are not complicated. They weave a smaller set of rules together in a simple manner (simple enough that anybody can apply them) but apply them in an uncommon way. Complex systems are for computer geeks and big banks — if you can’t understand something, you can’t possibly apply it.

Never skip ahead when learning a powerful new method for trading Forex. Make certain you learn the setup, entry and exit rules (which should exist); that you learn how to protect your trade with stops; and that you learn how to apply your method on a timely basis (be it hourly, daily or weekly) to get the most out of the method and to learn how all facets of what you learn work cooperatively to make you a better trader.

Remember, Simple but Powerful — using just a few indicators or rules applied in a non-textbook approach — is the key to getting an edge in the markets.

Amateur Forex Traders as well as Expert Forex Traders know that before you trade, you need to understand how to trade forex as well as use the proper tools.  Forex Profit Accelerator has netted over 2,420 pips in the last 8 weeks (or over $24k in potential profit trading standard lots) Click here to watch this forex software do live trades

You’re about to discover a 100% customizable “blueprint” you can use to TRIPLE your profit potential in the Forex markets again & again, at any time of the day, for as little or as long as you like, starting with as little as a $500 trading account. Click here to watch the free proof of Forex Income Engine at work

Welcome to the Forex Income Engine 2.0 Today could be the turning point in your life you’ve been waiting for… that is, if you’re prepared to do what it takes to get where you want to go. After all, if you’re visiting this web page today, then my guess is that something is missing in your life.

Do you want to spend more time with your family? Are you looking for another source of income that could help you leave your J-O-B (”just over broke”)? Maybe you want to start a “portable” business that you can run from anywhere in the world according to your schedule with no employees, no office, and no boss to answer to…

If any of that sounds interesting, then keep reading, because I have some great news for you. It doesn’t matter if you’re a complete beginner or a seasoned pro in the Forex markets; and, it doesn’t even matter whether or not you currently have a Forex trading method.

Regardless of your personal background and experience level with Forex, the information I’m about to reveal to you  has the potential to make a profound impact on your life in many ways.

But before I begin, let me just say this: I truly believe that if you’re a dedicated and serious individual, your life and your trading results could change forever after you read this letter, and you’ll never look at trading Forex the same way again. And when you fully realize the power and lifetime value of finally becoming an INDEPENDENT TRADER in the markets, you’ll never feel the need to listen to another so-called “expert” again, because you’ll be empowered to make all the decisions. Keep reading to discover why I’m making these bold statements, and why I think you’ll agree with me.

It Sounds Too Good To Be True, Doesn’t It?

OK, I understand. That might all sound “too good to be true”. If you’re like me, you’ve probably seen some claims by supposed gurus that are not only unbelievable, but that make you almost feel embarrassed for the person making those claims.

Chances are, you’re probably frustrated, confused, and maybe even a little angry because you feel like everybody is promising you the “moon and the stars”, and delivering nothing but “hot air and fluff”.

It’s OK, and it’s not your fault. Those “hucksters” should be ashamed of themselves. They’re promising you things they know they can’t deliver on. And that really burns me up.

So here’s what I want you to do when you read this letter. See if what I reveal to you about Forex day trading actually MAKES SENSE. Ask yourself if you can imagine actually doing what I teach you. And see how you feel when you’re done with the letter.

You won’t find any crazy promises here. Not once do I claim “no losing trades ever”. In fact, you’ll discover how the most successful traders became successful because they learned the right way to deal with losing trades, and not wasting time and money seeking the mythical “holy grail” system of trading that never loses (it doesn’t exist and NEVER WILL).

You also won’t find any “green lights”, “red lights”, or “push button” nonsense that promises to make you money while you sleep. Do you honestly think that stuff exists? No? Good. I didn’t think so.

However, what you WILL find here is how to become an INDEPENDENT MASTER Forex day trader. You’ll see how I reveal to you the actual technical rules and logic behind a step-by-step trading method that finally gives you the power to trade on YOUR TERMS and on YOUR SCHEDULE… while protecting your positions with a built-in “risk shield” at all times. Whether you want to spend just 20 minutes a day, or hours at a time… the choice is ultimately YOURS.

When you’re done with this letter, you should be saying to yourself, “YES. This makes sense.”

Let’s continue…

The Trader’s MIND Map (a/k/a “How To Become An Independent Master Trader”)

After over 35 years in the markets, I’ve watched traders follow a very predictable path of trying to achieve consistent success. And that’s why I developed what I call the Trader’s MIND Map. It’s a quick & simple way to find out where you’re at right now in your path toward Forex Mastery & how to get there faster than ever before.

Let’s quickly walk through the map, seen to the right. As I describe each quadrant to you, ask yourself where you’re currently at; & by the time I finish, you should see which quadrant holds the most potential for you.

The “D” Quadrant: This is the Dependent Trader, & it’s easy to get sucked into this quadrant, especially if you’re a beginner, and that’s because probably 80% of the “how to trade Forex” market comes from this quadrant. Dependent traders have the mistaken belief that somehow the can’t-lose “holy grail” system of Forex trading exists, and it can be had for only $97. Further, all you need to do is install some software, like a trading robot, push some buttons, go sleep and wake up rich. Of course, this is nonsense, and you know it. Of all the 4 quadrants in this map, this is the most dangerous to be in, & it’s the one that has the highest probability of completely wiping out your trading account, again & again. It’s nothing but a black hole, & should be avoided at all costs.

The “N” Quadrant: This is the Newbie, or newcomer, Trader. The newbies are usually well-intentioned but have a desire to figure out everything for themselves. They get their hands on as much free or cheap stuff as possible – whether it’s from websites, books, or magazines – & think they can glue it all together and turn it into a profitable trading method. Now, this is the quadrant I was in for many years, and that’s the fundamental problem with it. It takes too much time. There’s just too much junk out there, & while I believe you CAN become a successful trader in the N quadrant, the cost is too prohibitive, both in your time plus the actual cost of money lost to the markets as you try out your ideas. Not to mention the toll this can take on your personal & family life.

The “I” Quadrant: This is the Independent Trader. Once you begin to operate from here, you’ve made a huge breakthrough. Independent traders seek out complete trading methods, usually in the form of home study courses, where all the rules are exposed, so that they know what decisions to make, no matter what happens in the markets. These traders have the potential to taste success in days & weeks, versus the months & years that Newbies suffer through. Further, Independent traders take advantage of any customer support offered with the home study courses they invest in to dramatically shorten their learning curve.

The “M” Quadrant: This is the Master Trader. This should be the ultimate goal of every trader, & by definition, a Master Trader is also an Independent Trader. Traders get to be Masters by working closely with someone who’s already there. They seek out coaching & reinforcement to make sure they’re pulling the trigger properly on every trade they place. They have a deeper understanding of the markets than traders from the other 3 quadrants can only dream about. And the best part is, becoming a Master Trader doesn’t have to take a long time, if you have the right coach & mentor.

So there you have it – the Trader’s MIND Map. The good news is, it doesn’t matter where you’re at right now, because my ultimate goal for you is that you become an Independent Master Forex Trader with the help of my Forex Income Engine 2.0 training program.

The 4 “Golden Rules” That Most Traders Will NEVER Learn

I am going to be very candid with you right now, and I risk alienating myself from most of the other Forex educators out there. However, I had to make a decision: tell you the truth, or keep my mouth shut to make good with the “old boys” network of Forex “gurus”.

Deep breath… here it goes…

I’ve had my eyes on the Forex markets for years, but specifically, I spent the last few years carefully researching, testing, and tweaking every course, system, and method I could get my hands on to see what was going on. So, I think I’ve seen it all, and for the most part – it’s ugly.

I have 4 “golden rules” that I use to determine if a trading method is good for me:
It must be a complete method, with setup conditions, entry rules, initial stop rules, and exit strategy rules, leaving no decision to chance.
It must include specific risk management, money management, and portfolio management guidelines.
It must be based on technical analysis, but it must not be a 100% mechanical system.
It must provide a way to trade in as little as 20 minutes a day and not force you to stare at your computer for hours.

Let me talk about item #3 above for a moment, because this is where a lot of traders can potentially lose a lot of money.

When you rely on a computer to make 100% of your trading decisions, you do not learn how to become a trader, and you never will. Instead, you essentially give up control of your trading account. This can be extremely dangerous to your portfolio, because almost every system I’ve seen since 1974 has been back-tested and curve-fit, which means it will ultimately fail, or at least not live up to its past hypothetical results.

Now, that statement might get me into trouble, especially with younger traders, who tend to believe that you can create a 100% mechanical system that never (or rarely) loses. Folks, that’s called the Holy Grail, and a week doesn’t go by that I don’t get an email from someone who thinks they have found it.

By the way, this becomes even more dangerous when you base your livelihood on a third party service that feeds you signals every day without telling you their “secret formula”. What would happen to you if they went out of business?

(Just for the record, I believe some mechanical systems ARE good, at least for awhile, but I also believe the only way to maximize their use is if you truly understand how to trade in the first place.)

By harnessing the power of these discoveries, and coupling that information with all the other insights I’ve picked up over the past 3 decades, I’ve found a way to show you exactly, step-by-step, how to quickly identify the absolute best day trading Forex opportunities again & again… all based on my time-tested, complete trading principles.

Nothing is left to chance because my method is a tight integration of the 4 main components that are a requirement of any good trading method: setup conditions, entry rules, initial stop rules, and exit strategy rules.

And speaking of exit strategy rules, I also reveal how to reduce your risk on every trade to ZERO, as quickly as possible. I call it my “Free Trade Strategy“, and it’s just another way for you to totally customize your trading experience so it’s RIGHT FOR YOU.

Ultimately, I want to give you a method you can “turn on” whenever you find that you have time to trade.

And that’s why I decided to name my course the Forex Income Engine – because the goal of the method is for you to create a new income stream, almost on demand, like turning on an engine.

Let’s take a look at some recent sample trades you could have made using the Forex Income Engine 2.0. Keep in mind that trades like this are setting up ALL THE TIME, even potentially right this second.

This video reveals some awesome trades you could’ve made on the GBP/USD pair, 15-minute chart. See how quickly we rack up 226 pips, or $2,260 had you traded two standard lots.

Just click on the “PLAY VIDEO” button to watch this short video (a new window will open).